BTC Update 04/19/2024, 60764 (+1.9%)
Journaling Days: 06
BTC printed its lowest 60764 at 13:41/04/18/2024
BTC printed its highest 64100 at 22:09/04/18/2024.
Journal time: April 18th-19th. 7am-7am UTC+7
In the News:
Despite recent market fluctuations and some negative news, the future of Bitcoin remains bright. Here's a breakdown of recent events and their positive implications for those still unsure about Bitcoin:
MicroStrategy's Stock Price and Bitcoin's Value:
While MicroStrategy's stock (MSTR) has experienced a dip (down 40% compared to Bitcoin's 13% drop), this presents a potential buying opportunity for investors who believe in Bitcoin's long-term growth. The lower stock price doesn't reflect Bitcoin's inherent value, and experts predict a rebound, especially as the Bitcoin halving approaches. This decoupling of MSTR and BTC prices also highlights the evolving investment landscape, with more options like ETFs emerging for direct Bitcoin exposure.
Whale Activity and Dogecoin:
A significant "whale" investor is accumulating Dogecoin, recently purchasing 300 million DOGE tokens worth $45 million, demonstrating their confidence in the cryptocurrency's future. While speculation around the whale's identity continues, with some suggesting it could be Elon Musk, it highlights growing interest and belief in the potential of digital currencies like Dogecoin. This activity can potentially lead to increased visibility and adoption of DOGE and other cryptocurrencies.
Binance SAFU and Enhanced Security:
Binance, a leading cryptocurrency exchange, is bolstering the security of user assets by converting its Secure Asset Fund for Users (SAFU) to USDC, a stablecoin. This move involves transferring 16,277 BTC (approximately $1 billion) and 1.364 million BNB (around $749 million) to hot wallets for conversion. This showcases a commitment to risk management and asset protection, fostering trust and confidence within the crypto community.
Scaramucci's Bullish Prediction:
Anthony Scaramucci, a prominent investor and founder of SkyBridge Capital, remains incredibly optimistic about Bitcoin's future. He compares its current stage to the early internet era around 1999, predicting significant long-term growth, potentially reaching $200,000 after the halving. His confidence, coupled with historical trends of Bitcoin's performance after halving events, paints a positive picture for Bitcoin's future.
In conclusion:
Growing Adoption: Bitcoin is still in its early stages of adoption, similar to the internet in the late 90s. As awareness and understanding increase, so too will its user base and value.
Institutional Interest: Major financial institutions are increasingly interested in Bitcoin, with the emergence of Bitcoin ETFs and potential involvement from traditional investment firms. This institutional adoption lends credibility and stability to the cryptocurrency market.
Halving Event: The upcoming Bitcoin halving, a pre-programmed event that reduces the rate at which new Bitcoins are created, has historically led to price increases. This event could ignite significant growth in Bitcoin's value.
Technological Advancements: Ongoing development and innovation within the blockchain space will continue to improve the functionality and efficiency of Bitcoin and other cryptocurrencies, further solidifying their place in the future of finance.
While short-term volatility is inevitable, the long-term outlook for Bitcoin remains incredibly positive. The increasing adoption, institutional interest, upcoming halving, and continuous technological advancements all point towards a bright future for Bitcoin and the broader cryptocurrency ecosystem.
BTC Prediction for 04/19-20/24
Limit order:
Short: 64100
Long: 60764
Prediction expired at 04/20/24.07:00 am UTC+7.
BTC Prediction for 04/18-19/24 (Update)
No position targets were opened.
BTC 04/17-18/24 Prediction (Update) #Final
From the chart, you can see your long (61521), which was traded on April 17-18, was closed with a positive balance of +4% and a Take profit target of 64000. BTC touched your TP on April 18th, 22:08 (arrow sign).
In conclusion:
17-18 trading session was profitable day whether you open short or long. Here are the details for the short position.
BTC 04/15-16/24 Prediction (Update)#4
I remain positive about the Long position BTC opened at (63820). I plan to update this position until BTC prints 67k.